Indonesian government plans to stop small business miners in its main tin-producing Bangka-Belitung island for the next four years due to damage on its 657,510 hectares of forest areas in Bangka-Belitung.
Governor Eko Maulana Ali is quoted saying:
“Traditional Tin mining has been expanding. Farmers and fishermen have now switched to mine Tin.”
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PT Timah (Persero) Tbk, Indonesia’s largest tin producer, is planning to increase its offshore mining deposits. The company’s Offshore mining may account for 60% to 70% this year. It is also forced to reduce sourcing tin ore from its onshore mines in Bangka-Belitung islands, Indonesia’s main source of tin.
President Director Wachid Usman is quoted saying:
“We’re [...]
South Crofty and Cornwall, world’s leading producer of metals such as tin, zinc, copper, silver, and more, will be opening a lot of work for the people in England.
Barry Wills is quoted saying:
“The present historic resource consists of 53 identified potential orebodies in the South Crofty area, containing varying amounts of copper, zinc, silver, indium, [...]
It couldn't have come at a better time. Sentiment on the LME metals complex is still trapped between the conflicting signals coming from East and West, resulting in choppy, consolidatory price action. However, downside momentum has stalled across the board with predators now looking for "relative value" plays.
Even as stockpiling in China is set to raise the bar for the price of tin, miners in Peru may go on strike on March 15, which could bring on some pressure. Queensland Small Miners too have blamed the government for not adequately supporting small miners.
PHI Mining Group, Inc., announced that Truong Son Metal Mineral Joint Stock Company, a joint venture company between Truong Son General Group of Youth Volunteers and Indochina Mining Corporation.
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Many mining companies across all base metals have cut production at loss-making operations and delayed future projects as demand and prices have slumped.
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China has been bailing out its struggling domestic smelters by stockpiling metals since December. Heralding the Chinese New Year, wherein most companies and projects run overtime during the Spring Festival in order to ensure annual production plan, several firms have decided to take the long road.
NQM has acquired the mining leases, which include Stannary Hills, from Nickelseekers Pty Limited, having paid $200,000 plus 1,000,000 shares in NQM.
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North Queensland Metals Limited has acquired a suite of tin mining leases immediately to the north of NQM’s EPM 14741 tenement at Herberton, in far north Queensland.
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Thursday, May 27, 2010